Designer Brands price target lowered to $5 from $6 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Designer Brands (DBI) to $5 from $6 and keeps a Market Perform rating on the shares. The company delivered mixed results for Q4, with sales and expenses missing the market’s expectations, the analyst tells investors. Both the macro-operating environment and footwear market remains challenged, with pressure on the consumer remaining a concern going forward, the firm adds.